contact information jim hill

Jim Hill(P) 702.550.4917 | [email protected] information contained herein was obtained from sources believed reliable. However, R.O.I. Commercial Real Estate, Inc. makes no guaranties, warranties, or representations as to the completeness or accuracy thereof. The presentation of this information submitted is subject to errors, omissions, and/or changes without notice.

CONTACT INFORMATION

OFFERING MEMORANDUMPKWY Tavern | Newly Remodeled445 MARKS ST | HENDERSON, NV 89014

2ROI COMMERCIAL REAL ESTATE

TABLE OFCONTENTS

PROPERTY SUMMARY 3

INVESTMENT SUMMARY 4

SITE PLAN 5

TENANT PROFILE 6

RENT ROLL 7

AREA DEMOGRAPHICS 8

SITE AERIAL 9

HENDERSON OVERVIEW 10

LAS VEGAS OVERVIEW 11

DISCLAIMER 12


NAME PKWY Tavern

LOCATION 445 Marks St, Henderson, NV 89014

GROSS LEASABLE AREA 10,893 Sq Ft

SITE SIZE 1.25 Acres

CURRENT OCCUPANCY 100%

YEAR BUILT/REMODELED 1999/2019

DESCRIPTION This recently remodeled facility includes a full kitchen, upstairs meeting area, and is entitled to operate 15 gaming devices. Upon close of escrow the seller will execute a new 10-year Absolute NNN lease at a rate of $2.65 per square foot.

Stabilized investment oppotunity with established local multi-unit & multi-business operator

Within close proximity to 1.1 Million SF Sunset Galleria Mall

Adjacent to 457 room Sunset Station Resort & Casino

Access to interchange with US 95, less than 1 mile northeast of the subject308,000 people and $79,743 Average Household Income within 5 mile radius

PROPERTYSUMMARY


PURCHASE PRICE $6,598,045

NET OPERATING INCOME $346,397.40

GUARANTEE Personal

CAP RATE 5.25%

PRICE/SQ FT $605.71

RENT/SQ FT $31.80

LEASE TYPE Absolute NNN Lease

LEASE COMMENCEMENT 2019

LEASE EXPIRATION 2029

TERM REMAINING 10

RENT ESCALATIONS 5% every 5 years

OPTIONS Four 5-year options

REAL ESTATE TAXES Tenant Responsibility

INSURANCE Tenant Responsibility

REPAIRS AND MAINTENANCE Tenant Responsibility

PARKING LOT & LANDSCAPING Tenant Responsibility

RIGHT OF FIRST REFUSAL 30 Days

INVESTMENT SUMMARY

TaxesTenant shall be liable for any and all ad valorem taxes, assessments and related charges imposed, or levied upon the Lease Premises and applicable to the Term (collectively “Taxes”).

InsuranceAt Tenant’s sole cost and expense, Tenant shall obtain policies providing the follow-ing insurance coverage: (i) Commercial general liability insurance, on an occurrence form, including contractual liability, personal and bodily injury, and property damage insurance, on the Leased Premises, with a combined single limit of not less than $2,000,000 per occurrence and an aggregate limit of $4,000,000; and (ii) Property insurance insuring the Leased Premises for perils covered by the causes of loss - special form (all risk), including flood, as applicable. Such insurance shall be written on a replacement cost basis with an agreed value equal to the full insurable replace-ment value of the foregoing. Tenant shall have the option to self-insure as to any insurance obligation(s) required under this Lease.

Repairs & MaintenanceTenant shall at its own cost and expense, keep and maintain all parts of the Leased Premises in good condition and repair, promptly making all necessary repairs and replacements to all structural components of the Leased Premises (including, without limitation, the foundation, parking areas and driveways that are part of the Lease Premises, landscaping, any and all structural components of the improve-ments, load-bearing walls, exterior walls, and the roof); to the HVAC; if present at the Leased Premises, to yards, areas, fences, and sidewalks; to boilers and machinery; to all connections with the street, telephone, water, electric, gas mains and sewers and other utilities; and to such other fixtures used in connection with the operation of the Premises, including all replacements made by Tenant.

ROFRIn the event Landlord shall receive a Bona Fide Offer from a Bona Fide Purchaser to purchase the Leased Premises at any time and from time to time, Tenants shall have the lesser of 30 days from receipt of Landlord’s notice or 10 business days from the day Landlord receives written confirmation that Tenant has received Land-lord’s notice to exercise a right of first refusal to purchase the Demised Premises on the same terms and conditions as set forth in the Bona Fide Offer.


PROPERTYPHOTOS


TENANTPROFILE

PKWY Tavern | www.pkwytavern.com

PKWY Tavern is known for its casual environment, blending great food, sports, beer (250+), games, and awesome interactive technology. PKWY has a highly popular loyalty program with 32,000 and growing active users that utilizes a proprietary app on either iOS or Android that enables guests to discover new beers, track what they have drank/eaten, pay with their phones, and earn great rewards.

PKWY Tavern currently has 4 locations with a new location breaking ground soon at S Las Vegas Blvd & Volunteer Blvd.

PKWY Tavern is from local businessman Jonathan Fine, owner of Strip restaurant/bars PBR Rock Bar & Grill at the Miracle Miles Shops and Rockhouse at the Grand Canal Shoppes.


SITEPLAN


TRAFFIC COUNTSWarm Springs Rd - 25,700 VPDUS 95 - 131,000 VPDSource: NV DOT 2018

13,321 132,879 308,275

5,470 53,795 123,945

$86,668 $77,921 $79,743

AREADEMOGRAPHICS

Source: SitesUSA 2019

ACCESSIBLE & CONNECTEDSUNSET AT GALLERIA MALL TRADE AREALOCATED LESS THAN A MILE NORTH OF THE PROPERTY

McCARRAN INTERNATIONAL AIRPORTSERVES OVER 48 MILLION PASSENGERS PER YEAR

US 95EASILY ACCESSIBLE VIA SUNSET RD INTERCHANGE

1 MILE

3 MILE

5 MILE


SITEAERIAL


The City of Henderson, which is Nevada’s second largest city is home to over 310,000 residents, situated between the I-15 and US 95 corridors and is located just minutes from the Las Vegas Strip and McCarran International Airport. Henderson has remained committed to maintaining a high-quality lifestyle for its residents with a community focus on healthy lifestyles, healthcare, economic development, and quality education. This pledge has ensured that businesses and families alike will have the resources and amenities they need to be successful. The City of Henderson has been recognized as one of the best places to as one of Ameri-ca’s Best Places to Live (MONEY and Live-ability.com), one of America’s Best Cities (Business Week), one of the safest cities in America (Forbes, InsuranceProviders.com, Law Street Media, Movato.com).Demographic CharacteristicsHenderson’s current population estimate is 316,943, which makes up approximately 14% of the total population of the Las Vegas MSA of approximately 2,284,600. Hender-son residents have a median age of 42.2 years and a median household income of $66,939, which exceeds Las Vegas’ median household income of $57,946.

Housing & RecreationThe city is home to more than 25 master-planned communities with a median home value of $266,200 and an average house-hold size of 2.56. Henderson is nationally recognized for its stunning parks covering more than 1,306 acres, including 105 ath-letic fields, 64 tennis courts, 7 aquatic facili-ties, and 180 miles of trails. EducationExcellence in education is a priority in the City of Henderson, which begins with its 27 public elementary schools, many of which are nationally recognized. Proficiency rates are above both Clark County and Nevada’s. Henderson graduation rates exceed both the Nevada’s average of 73.6% and the na-tional average of 84.1%. Business & TaxesHenderson has an outstanding business climate and is home to major corporations such as Levi Strauss & Company, Ocean Spray Cranberries, Amica, and Toyota Finan-cial. Businesses from coast to coast such as Google, who is constructing a $600 mil-lion data center in West Henderson are tak-ing advantage of Southern Nevada’s busi-ness friendly climate and healthy economy by expanding or relocating to Henderson.

Most recently, the Las Vegas Raiders chose to construct their 320,000 square foot prac-tice facility and headquarters in the City of Henderson, which should bring 300 jobs to the area. An educated workforce is crucial to maintaining Henderson’s high standards, with over 31% of the population ages 25 or older having a bachelor’s degree or higher. Nevada’s tax climate is very attractive, as Nevada does not charge corporate, fran-chise, or personal income tax.

HENDERSONOVERVIEW


LAS VEGASOVERVIEW

Las Vegas is a unique suburban community that emphasizes in tourism, entertainment, casinos and gambling, business, warehous-ing, and innovation. It is the only major city in the American West to have been founded in the 20th century. It has grown significant-ly each year and has been one of the most desirable cities to move to. Las Vegas is an attractive market for many reasons, with

no state income tax, growing tech compa-nies such as Zappos and Switch, the origin of innovative companies like Solarcity and BrightSource, home of the UFC, and two new professional sports teams--the Golden Knights and the Raiders.The population of the Las Vegas Valley currently sits at 2.1 million and has steadily

increased by 50,000 people each year. Las Vegas holds majority of the population for Nevada at 75% and the state is projected to reach 3 million by 2018. This city has grown immensely in a short amount of time and does not plan on stopping any time soon.


R.O.I. Commercial Real Estate, Inc. has been retained as exclusive advisor to the Seller for the sale of PKWY Tavern (the “Property”). The development is approximately 10,893 square feet on approximately 1.25 Acres of land at 455 S Marks St, Henderson, NV 89014. This Offering Memorandum has been prepared by R.O.I. Commercial Real Estate, Inc. for use by a limited number of parties and does not purport to provide a necessarily complete summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projections have been developed by R.O.I. Commercial Real Estate, Inc., the Owner, and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and R.O.I. Commercial Real Estate, Inc., therefore, are subject to variation. No representation is made by R.O.I. Commercial Real Estate, Inc. or Owner as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Owner and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, R.O.I. Commercial Real Estate, Inc., Owner, and its employees disclaim any and all liability for representations and warranties, expressed

and implied, contained in, and omitted from, this Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. This Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of the package. Analysis and verification of the information contained in this package is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors. Owner and R.O.I. Commercial Real Estate, Inc. each expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers regarding the Property and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase of the Property has been fully executed, delivered, and approved by Owner and its legal counsel, and any conditions to Owner’s obligations thereunder have been satisfied or waived. R.O.I. Commercial Real Estate, Inc. is not authorized to make any representations or agreements on behalf of Owner. This Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein

are called the “Contents”), are of a confidential nature. By accepting the package, you agree (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, (iii) not to disclose the package or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Owner or R.O.I. Commercial Real Estate, Inc., (iv) not use the package or any of the contents in any fashion or manner detrimental to the interest of Owner or R.O.I. Commercial Real Estate, Inc., and (v) to return it to R.O.I. Commercial Real Estate, Inc. immediately upon request of R.O.I. Commercial Real Estate, Inc. or Owner. The information contained herein has been obtained from the owner of the property or from other sources we deem reliable. We have no reason to doubt its accuracy, but do not guarantee it.

DISCLAIMER

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